The company, which also won the largest company award in the Special Awards category, was among the 100 most valuable companies operating in the country.

Tullow Oil
Tullow Oil

The Ghana Investment Promotions Center (GIPC) organized the awards in recognition of the investment and business activities of the companies in the West African country.

It was under the theme “impact Investments and Sustainable Economic Development”.

Tullow Oil recorded a 16.422 percent in Return on Equity (ROE), three-year average growth rate of 29.85 percent, rebased growth rate of 29.72 percent, and profitability in terms of ROE over a three-year period of 17.68 percent.

Tullow also recorded a rebased profitability of 14.43 percent and the only company to record a 100 percent growth in company size with a weighted average score of 63.2 percent.

By this feat, the British petroleum explorations and production firm took over from RLG, manufacturers of mobile phones and computers, which won the 13th edition of the awards instituted in 1998 to recognize most performing companies in the country.

Ramel International Group, leading conference and event management company with staffing, ticketing and travel services and equipment rentals, won the second spot after placing 64th in the 13th edition, while manufacturing firm, Multi-Pro Private Ltd placed third.

Pan African Bank, Ecobank, was also adjudged among the array of companies as the highest tax payer in the country at the awards night.

Charles Boamah, a Vice-President of the African Development Bank (AfDB), and keynote speaker, noted that it was time Africa moved from seeking investments in billions of U.S. dollars into trillions of dollars.
“These investments must however come in from non-ODA (Overseas Development Assistance) sources,” Boamah stressed.

He said the continent should leverage Pensions funds, mutual funds, private remittances, and other domestic sources for these investments.

Chief of Staff Julius Debrah, who represented President John Dramani Mahama, reiterated government’s commitment to take the necessary actions that would bring back a healthy macro-economic environment.

Mawuena Trebah, Chief Executive Officer of GIPC, said the attention of the GIPC would remain focused on the critical sectors for investors for Ghana to progress to an upper middle income status.

We will continue to grow, we will continue to learn from every experience, we will take feedback from our Club 100 members to inform on the next Club 100 event,” she added. Enditem.

Source: Justice Lee Adoboe

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